NEW YORK, May 21, 2020 -- CIT Group Inc.
(NYSE: CIT) and Lenovo
announced a three-year program extension to their Lenovo Financial Services program, continuing the decade-long relationship. Under the extension, CIT will continue to provide a broad range of vendor financing solutions for U.S. clients and customers who utilize Lenovo's extensive range of technology products and services.
"We're excited to continue our longstanding and successful relationship with Lenovo," said Mike Jones, president of CIT's Business Capital
division. "CIT is committed to providing customers with the financial agility and flexibility to meet their unique needs. Our Lenovo Financial Services program demonstrates that commitment by showcasing CIT's ability to deliver the right financing solutions for customers of a leading technology company."
Through the Lenovo Financial Services program, CIT offers solutions for commercial customers seeking to lease or finance Lenovo's advanced technology products and services. CIT supports all of Lenovo's direct and indirect sales channels, from small business e-commerce to Fortune 100 clients. Options range from traditional fair market value leasing and loan products to integrated managed service offerings.
"For 10 years, CIT has served as a trusted financing and services provider for Lenovo, giving our U.S. customers the flexibility they may need to incorporate advanced technology solutions into their businesses," said Rob Makin, Lenovo Executive Director of Worldwide Device as a Service and Lenovo Financial Services. "Extending this relationship strengthens our ability to make smarter technology available for all, whether through outright leases or participation in Lenovo's Device as a Service Program."
CIT's Business Capital
division empowers small and mid-size businesses by providing equipment financing solutions via technology-enabled platforms and market leading structuring expertise.
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about